Governments across Latin America are likely to be breathing sighs of relief following US President Trump’s tariff announcement on Wednesday - they've ended up facing tariff rates at the lower end of the spectrum, limiting the hit to their economies. That also reduces the likelihood of retaliatory measures. But there are still indirect effects, with the plunge in oil prices set to weigh on the exports of Mexico, Brazil, Colombia and Ecuador. And the sharp falls in currencies today will reinforce central banks’ concerns about strong inflation pressures.
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